VALUATION -- CORPORATE VALUE CREATION -- TIME VALUE OF MONEY -- SECURITY MARKETS -- Part II: Financial Information as a Source … of Valuation Inputs -- OVERVIEW OF FINANCIAL INFORMATION -- THE BASICS OF FINANCIAL STATEMENT ANALYSIS -- PROFITABILITY … -- OVERVIEW OF CAPITAL STRUCTURE AND COST OF CAPITAL -- THE COST OF EQUITY -- THE COST OF DEBT -- Part IV: Intrinsic Valuation …

We decompose the market-to-book ratio into two additive components: a conservatism correction factor and a future …-to-book ratio. The conservatism correction factor exceeds the benchmark value of one whenever the accounting for past transactions … has been subject to an (unconditional) conservatism bias. The observed history of a firmś past investments allows us to …